A clear Cup and Handle pattern has formed, signaling a potential bullish continuation. The stock recently broke above key resistance around $244 and is now pulling back to retest that breakout level.
Short-Term View (1–3 weeks):
• If price holds above $244 and shows strength, upside momentum is likely to resume.
• Short-term target: $265–$270
• Stop-loss: below $230
Long-Term View (2–6 months):
• A confirmed breakout of this pattern could lead to a strong upward move.
• Long-term target: $290–$310
• If price loses the $227–$230 support zone, the bullish setup weakens, and a drop toward $200 could follow.
Summary:
AMZN is at a key retest zone after breaking a long-term resistance. Holding above $244 would likely confirm the bullish trend, while failure to sustain that level might trigger a deeper correction.
Short-Term View (1–3 weeks):
• If price holds above $244 and shows strength, upside momentum is likely to resume.
• Short-term target: $265–$270
• Stop-loss: below $230
Long-Term View (2–6 months):
• A confirmed breakout of this pattern could lead to a strong upward move.
• Long-term target: $290–$310
• If price loses the $227–$230 support zone, the bullish setup weakens, and a drop toward $200 could follow.
Summary:
AMZN is at a key retest zone after breaking a long-term resistance. Holding above $244 would likely confirm the bullish trend, while failure to sustain that level might trigger a deeper correction.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.